Creating Shareholder Value: A Guide for Managers and Investors
Average customer rating: 4.5 out of 5 stars
  • Powerful promotion of shareholders' interests
  • Higher Understanding
  • Valuation Fundamentals
  • Good explanation of creating shareholder value, but...
  • MAKE MANAGING SHAREHOLDER VALUE A CORE COMPETENCY
Creating Shareholder Value: A Guide for Managers and Investors
Alfred Rappaport
Manufacturer: Free Press
ProductGroup: Book
Binding: Hardcover

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ASIN: 0684844109

Amazon.com

Should a company's management be most accountable to employees, customers, or management itself? In Creating Shareholder Value, Alfred Rappaport argues that management's primary responsibility is to company shareholders. First published 12 years ago, the ideas put forth by Rappaport have since become commonplace in companies around the world.

Rappaport eschews the most common measures of a company's performance, such as price-to-earnings ratios ("Cash is a fact, profit is an opinion"), return on investment, and equity measures, instead concentrating on developing a shareholder value approach that measures "value drivers" such as sales-growth rates, operating profit margins, and cost of capital. This revised and updated edition addresses the issues of corporate downsizing and the social responsibilities of business. It also includes new sections on the value of mergers and acquisitions and how to implement a shareholder value system. Both managers and investors alike will find this book useful.

Book Description

The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, Creating Shareholder Value, Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table.

The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.

Download Description

The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, "Creating Shareholder Value", Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.

Customer Reviews:

5 out of 5 stars Powerful promotion of shareholders' interests .......2007-08-07

For the past 12 years, `The Wall Street Journal' has published Dr. Alfred Rappaport's brainchild, the `Shareholder Scoreboard.' This special section lists 1,000 of the largest U.S. corporations (representing 90% of all listed equity values) and shows statistically how "shareholder-friendly" each one is. This journalistic feature popularizes Rappaport's "Shareholder Value" (SV) theory among institutional and individual investors. Investors use this theory to make equity commitments that reflect the author's economics-based criteria. Frankly, the lay reader who has not majored in economics, or in corporate accounting and finance, will find Rappaport's book abstruse. But it leads the way for the informed, inquisitive investor who seeks "business enlightenment" and Wall Street success. Do not be thrown off by the original 1986 print date. A classic is just that, a book that can be read and wisely used for decades. The small, silent shareholder revolution that Rappaport started is far from over. By now, shareholder analysis has become part of the mainstream for hundreds of big companies (though they accepted it gradually). SV is far from perfect as a corporate strategy indicator. The true worth of this book for CEOs and other executives resides in its lessons for implementing the SV approach throughout a corporation. We recommend it to all three informed constituencies of every public corporation: executives, employees and shareholders.

4 out of 5 stars Higher Understanding.......2007-01-08

A great guide for those wanting to gain a higher level of understanding of corporate decision making. I found it useful within my own business unit and plan to bring back some of the concepts. Read this book if you have a desire to stand out by analyzing decisions like a corporate officer.

5 out of 5 stars Valuation Fundamentals.......2001-09-28

Given that investors value bonds by discounting future cash flows, it stands to reason that they value stocks in the same fashion. Alfred Rappaport is the founder of the shareholder value mindset which gained importance in the '80 and is widely accepted in this new millenium. Rappaport starts the book explaining that objections to using a discounted Cash Flow model do not hold. Strong arguments and empirical evidence is given to explain the market's valuation mechanism. What follows is a basic but thorough explanation of the 3 elements for valuing a company (cash flows , risk and the competitive advantage period). In the second part of the book, it will become clear for the reader DCF is closely linked to strategic analysis and is not in contradiction with stakeholder analysis, customer value analysis, Activity Based costing or any other tool. On the contrary, Rappaport shows DCF is a communication tool that helps investors understand a company's implied performance and how to (re)act. Together with the Valuation book from Copeland, Koller and Murrin this is the book you need.

3 out of 5 stars Good explanation of creating shareholder value, but..........1999-06-09

Professor Rappaport's revised version of his 1986 book on creating shareholder value provides a good description of the value based management concept that he helped create. However, many of the chapters are stand alone sections that do not flow well together. In some chapters he does not provide enough depth on how this book can actually be used by managers. In addition, the chapters on using his concepts to formulate value-maximizing business strategies was somewhat lacking.

Nevertheless, the book was an easy read and many of his points were right on target. I would also highly recommend interested readers to check out "The Value Imperative" by Marakon Associates and "Valuation" by McKinsey & Co for more information on value based management.

5 out of 5 stars MAKE MANAGING SHAREHOLDER VALUE A CORE COMPETENCY.......1999-04-01

This continues to be a good book for raising awareness that shareholder value can and should be managed. It was not that many years ago when a survey of CEOs found that they thought it was immoral and unethical to try to raise share price! I am also pleased to see that Mr. Rapparport discussed appluications to planning, M&A, compensation and organizational development. I belong to an organization (SHARE PRICE GROWTH 100) that develops new tools and processes to improve stock price, and we have found new ways directily link stock price, finance, investor realtions and capital management. We also found that each company has different investor sensitivities, and few stocks move directly with cash flow. The concepts that we use are described in THE 2,000 PERCENT SOLUTION. One of Mr. Rapparport's questions, "what is the most appropriate measure of performance" is a question that was asked of Peter Drucker in the 1970s. Dr. Drucker responded by saying that companies should use as many measures as possible, because we learn something different from each one. That is what really improves business. Confusion sets in, however, because people think that the measures used to improve business performance are also the ones investors focus on. That thinking has misled many to improve performance while watching the stock price and the multiple do nothing. Managing stock price should become a core competancy. With the right infomation, you will find your 2,000 percent solutions.
The Value Sphere: Secrets of Creating and Retaining Shareholder Wealth
Average customer rating: 5 out of 5 stars
  • Specific techniques to help re-invent business
The Value Sphere: Secrets of Creating and Retaining Shareholder Wealth
John A. Boquist , Todd T. Milbourn , and Anjan V. Thakor
Manufacturer: Value Integration Associates
ProductGroup: Book
Binding: Paperback

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ASIN: 0967556406

Customer Reviews:

5 out of 5 stars Specific techniques to help re-invent business.......2001-01-16

In The Value Sphere: Secrets Of Creating And Retaining Shareholder Wealth, John Boquist, Todd Milbourn, and Anjan Thakor collaborate to show how any corporate manager can devise breakthrough strategies and alignments to increase value of their company's shares in today's market. Here offered are specific techniques to help in the re-invention of a business organization toward a gold of unlimited value creation. Included along with practical and innovative strategies are invaluable advice on resource allocation, performance metrics, people and organizational culture. The Value Sphere is "must" reading for anyone charged with a responsibility for enhanced and increasing the value of their organization in today's highly competitive local, regional, national, and global marketplace.
Competing for Customers and Capital
Average customer rating: 5 out of 5 stars
  • A new perspective for assessing firm performance
Competing for Customers and Capital
Victor J. Cook Jr.
Manufacturer: South-Western Educational Pub
ProductGroup: Book
Binding: Hardcover

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ASIN: 0324405979

Book Description

Not only do the goals of marketing departments often fail to match those of finance, they sometimes outright conflict. The two departments speak different languages, they have no clear link, and - bottom line - the markets for customers and investors are separate. But one innovative book can change everything. CREATING MARKET VALUE illustrates a cause-and-effect model of relationships between marketing and finance based on a common language, economic theory, and financial accounting data. This model links intangible assets to the market value of firms. Breaking with the tradition of valuing companies based on unrelated ratios and metrics, Dr. Victor Cook identifies three metrics that bind marketing and finance: the Value Sales Principle, the Rule of Maximum Earnings, and the Competitive Valuation Paradigm. These groundbreaking principles point to a model that unites important metrics from marketing and sales and adds to the understanding of exactly what drives the value of an organization.

Customer Reviews:

5 out of 5 stars A new perspective for assessing firm performance.......2006-08-22

Competing for Customers and Capital is a must read for those in the finance and marketing areas, and especially for those who are, or aspire to be, upper-level managers. Whether you agree with his approach or not, the concepts Cook presents will encourage you to think about the marketing-finance interface in a new and collaborative way. As the first set of chapters is devoted to developing the theoretical constructs used in the book, I would suggest that you begin with chapter 5, read thought to the end and then come back and read chapter 1. Chapters 2 through 4 are not for the quantitatively challenged. For me the book's most evocative idea is illustrated in Chart 1-5, which suggests a much broader and longer term view of the customer as captured by the enterprise marketing concept. Enjoy!
Outperform with Expectations-Based Management : A State-of-the-Art Approach to Creating and Enhancing Shareholder Value
Average customer rating: 4 out of 5 stars
  • Repacking known concepts
  • A must to understand financial performance measurement
Outperform with Expectations-Based Management : A State-of-the-Art Approach to Creating and Enhancing Shareholder Value
Tom Copeland , and Aaron Dolgoff
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Book Description

CEOs and managers live and die by delivering superior performance to shareholders. This is why expectations-based management has been developed. Outperform with Expectations-Based Management (EBM) introduces a revolutionary new performance metric that links performance standards, performance measurement, and the achievement of performance.

It's easy to say that if a CEO can get performance measurement right, then performance improvement will follow. But what is the "right" measure of performance, and how do you use it to improve performance? Authors Tom Copeland and Aaron Dolgoff answer these questions and many more, as they show you how to find the measure of performance that has the strongest link to the creation of wealth for the owners of both public and private companies. They answer the puzzle of why growth in earnings is not correlated with shareholder returns and explain the under- and over-investment traps. And they explain how clear communications to investors and managers alike improve value.

The bottom line is that share prices go up when companies exceed expectations -- short-term and long-term -- of income statement and balance sheet performance and daily operating value drivers. Gain a complete understanding of EBM and discover how to do this, and much more, while staying competitive in an unforgiving business environment.

Download Description

CEOs and managers live and die by delivering superior performance to shareholders. This is why expectations-based management has been developed.Outperform with Expectations-Based Management (EBM) introduces a revolutionary new performance metric that links performance standards, performance measurement, and the achievement of performance. It's easy to say that if a CEO can get performance measurement right, then performance improvement will follow. But what is the ""right"" measure of performance, and how do you use it to improve performance? Authors Tom Copeland and Aaron Dolgoff answer these questions and many more, as they show you how to find the measure of performance that has the strongest link to the creation of wealth for the owners of both public and private companies. They answer the puzzle of why growth in earnings is not correlated with shareholder returns and explain the under- and over-investment traps. And they explain how clear communications to investors and managers alike improve value. The bottom line is that share prices go up when companies exceed expectations - short-term and long-term - of income statement and balance sheet performance and daily operating value drivers. Gain a complete understanding of EBM and discover how to do this, and much more, while staying competitive in an unforgiving business environment.

Customer Reviews:

3 out of 5 stars Repacking known concepts.......2007-08-02

Although well written, this book repacks already known concepts. Expectations analysis have been used for a long time on competing approaches. David Young and Stephen O'Byrne have already shown this idea on EVA and Value-Based Management: A Practical Guide to Implementation. Anyway, the book is useful as a reference for Finance practioneers.

5 out of 5 stars A must to understand financial performance measurement.......2005-12-08

A must read for anyone interested in financial performance measurement and all related topics, including executive compensation design, corporate portfolio management, investment decision-making. Like Copeland's prior works on valuation and real options, this book is highly accessible to interested practitioners. The underlying premise--value is a function of expected future cash flows--is not controversial. This book takes that concept and shows how commonly used performance measurement systems miss the point. Anyone who has wondered why stock prices sometimes move in mysterious ways needs to read this book.

The book is written for senior managers and is obviously relevant to strategic planners, M&A players and strategy consultants. If you have read or used competing approaches (like EVA and CFROI), you should read their useful critique of these metrics.
Value Based Management: Developing a Systematic Approach to Creating Shareholder Value
Average customer rating: 4 out of 5 stars
  • Excellent introduction with detailed solutions
  • A very basic point of view
  • A must read book for companies striving for value creation
Value Based Management: Developing a Systematic Approach to Creating Shareholder Value
James A. Knight
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

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ASIN: 0786311339

Book Description

Value Based Management brushes aside the often-confusing amalgam of quick-fix management potions, and gives you tested tips and strategies designed to turn your company into an equity-enhancing machine. This long-awaited book describes how, once you have seen and tried the hundreds of different management theories that abound today, one goal will always remain: Enhancing Shareholder Value. Companies that focus on creating and building value become focused, goal-oriented, and successful at building the powerful business machines that are required in todayÕs give-no-quarter competitive environment. Performance measurement consultant James A. KnightÕs eye-opening book provides convincing proof that strategies designed to maximize shareholder value can benefit everyone involved. With its clear-cut diagrams, explanations, and case histories, Value Based Management demonstrates how every decision your management team makes can consistently create shareholder value. Its comprehensive benefits include a clear definition of the nature of corporate value, and how the act of enhancing it can create positive reverberations throughout the entire company; examples of companies that have successfully managed for value and how they have done it, alongside examples of companies that failed to manage for value and how you can avoid their pitfalls; and explanations of how Value Added Management creates the optimal balance between short and long term decisions, and helps your managers balance the trade offs between improved levels of profit and greater growth. Like so many journeys, the toughest step when focusing your company on Value Management is the first step. Take that first step today! Read Value Based Management, focus on the strategy and business questions it raises, then think about how its solutions can be tailored to fit your company. Once you have begun to implement Value Based Management your shareholders, along with your customers and employees, will recognize and reap the profitable benefits of a value based corporate mindset.

Customer Reviews:

5 out of 5 stars Excellent introduction with detailed solutions.......1999-04-27

I've watched the words "Shareholder Value" creep into our business vocabulary over the past decade or so, and I've heard many explanations of how to optimize it. Unfortunately, there about as many definitions and techniques for measuring and managing it as there are books on the subject. I've read many of these other texts and worked with the other consultants Mr. Knight mentions in his book. But none of them have approached the precision and clarity of this book. Mr Knight starts with why management should understand the shareholder's needs and the proper methods for addressing those needs, then he takes the reader logically through all the steps (including the subtle nuances) of implementing such a program. There is no more comprehensive nor better written book on this subject on the market. If only Mr. Knight had written his book 10 years ago, many of us would have been saved from endless hours of vague and confusing meetings about what we were really trying to accomplish.

2 out of 5 stars A very basic point of view.......1999-03-10

I expected much more of it. Very basic in it's assesments and definition. I cannot get a real signification of EVA until chapter 6. Good for earliers beginners not awaiting for much academic support

5 out of 5 stars A must read book for companies striving for value creation.......1998-07-14

This book shows how to develop and implement strategies regarding value creation for shareholders. It has a very good mix of theory and business cases. The core aspect of this book is the theory behind the imperative link of: Strategic Planning, Budgeting, Financial Reporting and Incentive Compensation. This theory is tested against many sucessful business cases. The author also shows why some companies fail after incomplete or wrong assumptions on the value based management implementation.
Creating Shareholder Value (Spiro Business Guides)
Average customer rating: Not rated
    Creating Shareholder Value (Spiro Business Guides)
    David Crowther
    Manufacturer: Spiro Press
    ProductGroup: Book
    Binding: Paperback

    Corporate FinanceCorporate Finance | Finance | Business & Investing | Subjects | Books
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    ASIN: 1904298591

    Book Description

    This book addresses the application creating shareholder value by providing a clear guide to the appropriate techniques and systems to adopt in the management of the creation of shareholder value.
    Authentic Leadership: Rediscovering the Secrets to Creating Lasting Value (Unabridged)
    Average customer rating: 4.5 out of 5 stars
    • One of the Best Leadership Books I've Read All Year!
    • Leadership with Integrity
    • A Compelling Invitation
    • Insightful!
    • There is a better way to lead: Ethical Leadership
    Authentic Leadership: Rediscovering the Secrets to Creating Lasting Value (Unabridged)
    Bill George
    Manufacturer: audible.com
    ProductGroup: Book
    Binding: Audio Download
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    Customer Reviews:

    5 out of 5 stars One of the Best Leadership Books I've Read All Year!.......2007-02-02

    Authentic Leadership was easily one of the most fascinating business books I've read all year. I didn't buy this book, it was a text book one of my employees purchases for one of their college classes. I never read any of my college course books and I'm pretty certain Seth didn't read this one. His loss!

    Authentic is a powerful book written for CEOs and company leaders in a post-Enron environment. Taking its cues from the deception, mismanagement and destruction caused by the leaders of Enron, WorldCom, Aurthur Anderson and Global Crossings, George writes his book from the other side of the playing field. This isn't a book about growing your profits, increasing stock value, or building your self (as CEO) up, but about how truly authentic leadership does all of those things plus more.

    George is in business to help people, not to gain wealth. Pursuing the latter without the former may lead to temporary gains but many companies led by such CEOs find themselves in financial disaster later. By pursuing an authentic leadership style George proves that not only are the people the company serves better off but the company is better off as well.

    This is the book every corporate and business leader needs to read. George recounts numerous stories from his corporate leadership experiences and isn't afraid to tell it like it was. Having worked for in-authentic companies in the past George tells of the trials and ultimately his decisions to move on despite the risks involved. He draws from his own experiences as CEO of Medtronic and how his decade of authentic leadership help drive the company from less than one to over seven billion dollars in revenue, all while adhering to the companies core values.

    5 out of 5 stars Leadership with Integrity.......2006-01-01

    Authentic Leadership is a refreshing book, written by an executive who stresses ethical leadership at a time when the country is dealing with a series of corporate scandals. According to the author, authentic leaders "are those who are committed by a purpose or a mission; people who live by their values everyday and who know the true north of their moral compass. The lead with their hearts, not just their heads, and have compassion for the people they serve. They do so with the discipline and commitment that get great results, not just for the shareholders but for all their stakeholders, their customers, their employees, and the communities they serve."

    Bill George believes that authentic leaders "genuinely desire to serve others through their leadership. They are more interested in empowering the people they lead to make a difference than they are in power, money, or prestige for themselves. They are guided by qualities of the heart, by passion and compassion, as they are by qualities of the mind."

    Drawing on his experiences in corporate America, the author has identified five essential dimensions or qualities all authentic leaders possess, which are:

    1) understanding their purpose;
    2) practicing solid values;
    3) leading with heart;
    4) establishing connected relationships; and
    5) demonstrating self-discipline.

    Having identified these qualities, he then goes on the discuss them in detail.

    The book's epilogue is powerful in that it identifies many of society's challenges and leaves the reader with a series of thought-provoking questions that may stimulate a new or renewed course of action. Some of the more important questions are:

    1) What is your unique calling?
    2) Can you find your passion and couple it with your ability to make a difference in the world, such as reducing poverty, eliminating abuse, stopping discriminations, helping other heal, restoring our environment, building organizations dedicated to service, helping people develop themselves, improving quality of life for others, or bringing joy to the world?
    3) What will be your legacy?

    Bill George has made a significant contribution to society, not only through his ethical stewardship in corporate governance, but also by writing a book that provides guidance on how one might become a true leader. Authentic Leadership is an interesting and inspirational book. So important do I view this book that I purchased more than a hundred copies to give out to potential leaders in the field of corrections.

    5 out of 5 stars A Compelling Invitation.......2004-06-04

    The day after I read this brilliant book, I read an article in the Dallas Morning News (Tuesday, September 30, 2003) in which sportswriter Gerry Fraley discusses the Minnesota Twins whose payroll is $110-million less than that of the Yankees. (The Twins won 90 games this past season and had just defeated the Yankees in the first game of the American league playoffs.) As Fraley notes, the Twins are renowned for how they treat their people. One of them is Al Newman who is currently struggling with a life-threatening illness. Here's a brief excerpt from Fraley's article:

    "When beloved third-base coach Al Newman was hospitalized in Chicago this month because of a brain hemorrhage, general manager Terry Ryan remained with him for the entire 11-day stay. While Newman was hospitalized, the Twins clinched the Central title at home. Manager Ron Gardenshire stopped the postgame celebration, brought out Newman's uniform top and reminded the crowd of what he had done for the club."

    If I understand George's key points in Authentic Leadership, both Ryan and Gardenshire offer examples of it. Specifically, they demonstrate "the highest integrity, [are] committed to building enduring organizations...who have a deep sense of purpose and are true to their core values...who have the courage to build their companies to meet the needs of all stakeholders, and who recognize the importance of their service to society." George addresses what he views as a need for new leadership when in fact the need is to increase the number of authentic leaders, not only in business but in government, religion, and the military. We need more men and women who "genuinely desire to serve others through their leadership...are more interested in empowering the people they lead to make a difference than they are in power, money, or prestige for themselves. They are as guided by qualities of the heart, by passion and compassion, as they are by qualities of the mind."

    George invites, indeed urges his reader to "rediscover the secrets of creating lasting value" in literally all areas of contemporary life. On page 6, he poses a series of questions and then in the 17 chapters and Epilogue which follow, he responds to each. However insightful those responses may be, and they are, I think the primary purpose of the questions is to guide and inform each reader's consideration of the various issues which those questions suggest. With all due respect to what George so generously shares from his own life and career, the nature and extent of the reader's own engagement in self-exploration will ultimately determine the value of this book.

    The material is exceptionally well-organized. The quality of writing is first-rate, and especially effective because of the conversational tone of George's observations and suggestions. Although there are frequent references in this book to "companies," the questions posed and the issues associated with them are also directly relevant to all other organizations (regardless of size or nature) in which there is a compelling need for authentic leaders. Daily, it seems, there is evidence of such need in news accounts of corruption in all areas of our society. Corporate executives are indicted and convicted of fraud. Officers in the military are demoted, discharged or, in some instances, imprisoned as are clergy in various denominations. Although the reasons for their behavior vary, all of them betrayed the trust of those to whom they were accountable and for whom they were responsible.

    Authentic leaders are first and foremost authentic human beings. For me, this is George's key point and because it seems so obvious, it may also seem simplistic. On the contrary, he has cut through all the rhetoric and urges his reader to examine her or his core values. For most of us, that is an immensely difficult, perhaps painful experience. In this context, I am reminded of the fact that in The Inferno, Dante reserved the last and worst ring in hell for those who, in a moral crisis, preserve their neutrality. Throughout all manner of organizations, there are women and men who are authentic leaders and should be commended. The reality is, their respective organizations need more of them. More to the point, all of us in our global community need more of them. In his unique and compelling book, George challenges us to join their number.

    4 out of 5 stars Insightful!.......2004-04-23

    Few companies got more marketing mileage out of their culture than Medtronic. Its former CEO, author Bill George, is proud of his company's squeaky clean corporate record. Despite all the clichés he may muster, despite his occasional preachiness, perhaps no CEO has written a more lucid or insightful series of reflections on the challenge of managing a corporation in twentieth century America. Read this book and you will learn some obvious lessons and some new ones: that leaders should be honest, that they will be tempted to cut corners in pursuit of short term profits but really ought to resist that temptation, that devotion to customers is at least as important as devotion to shareholders (provided you make your numbers every quarter) and that managers at Enron and WorldCom did the wrong thing, but we can learn a lesson from them. We acknowledge that Bill George may be as close as American executive ranks have come to producing a moral philosopher.

    4 out of 5 stars There is a better way to lead: Ethical Leadership.......2004-03-14

    This book describes timeless leadership principles by a man who, as he writes, has spent his entire life learning and working to become a better leader.

    Bill George has written an inspiring book for all who aspire to be good leaders. He states his case for authentic leadership: values centered and performance oriented, using a candid and open style. He writes about his many experiences in a leadership role: as CEO of Medtronic, and with Litton, and Honeywell - describing challenges leaders face and how they deal with them.

    Personally, I like to read and understand more about leadership - what is being a good, effective leader. This book appeals to me because it seems to confirm what I feel is important about being a good business leader: "Good leaders are people of the highest integrity, true to their core values, with the courage to build enduring organizations to meet the needs of all their stakeholders, and who recognize the importance of their service to society" (Bill George, slightly re-written).

    I recommend this book to all who wish to understand more about leadership, and what it is to be a good leader.
    Capturing the innovation premium: ingenuity is the key to creating customer and shareholder value. But to succeed, you have to be willing to break the ... An article from: Chief Executive (U.S.)
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      Capturing the innovation premium: ingenuity is the key to creating customer and shareholder value. But to succeed, you have to be willing to break the ... An article from: Chief Executive (U.S.)
      Jennifer Pellet
      Manufacturer: Chief Executive Publishing
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      ASIN: B0008ETZ0Y
      Release Date: 2005-07-30

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      This digital document is an article from Chief Executive (U.S.), published by Chief Executive Publishing on June 1, 2002. The length of the article is 4228 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

      Citation Details
      Title: Capturing the innovation premium: ingenuity is the key to creating customer and shareholder value. But to succeed, you have to be willing to break the rules. (Roundtable).
      Author: Jennifer Pellet
      Publication: Chief Executive (U.S.) (Magazine/Journal)
      Date: June 1, 2002
      Publisher: Chief Executive Publishing
      Page: 56(8)

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      Creating Shareholder Value
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        Creating Shareholder Value
        Alfred Rappaport
        Manufacturer: Free Press
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        Binding: Hardcover
        ASIN: B000GRM80W
        Creating Shareholder Value: Impossible Dream or Achievable Business Objective?(empowering employees leads to profits): An article from: Canadian Manager
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          Creating Shareholder Value: Impossible Dream or Achievable Business Objective?(empowering employees leads to profits): An article from: Canadian Manager
          Tim Davis , and Michael J. Landa
          Manufacturer: Canadian Institute of Management
          ProductGroup: Book
          Binding: Digital

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          ASIN: B0008IXCTU
          Release Date: 2005-07-28

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          This digital document is an article from Canadian Manager, published by Canadian Institute of Management on June 22, 2000. The length of the article is 2504 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

          Citation Details
          Title: Creating Shareholder Value: Impossible Dream or Achievable Business Objective?(empowering employees leads to profits)
          Author: Tim Davis
          Publication: Canadian Manager (Magazine/Journal)
          Date: June 22, 2000
          Publisher: Canadian Institute of Management
          Volume: 25 Issue: 2 Page: 23

          Distributed by Thomson Gale

          Books:

          1. Damodaran on Valuation: Security Analysis for Investment and Corporate Finance (Wiley Finance)
          2. Deal Terms - The Finer Points of Venture Capital Deal Structures, Valuations, Term Sheets, Stock Options and Getting VC Deals Done (Inside the Minds)
          3. e-Business & e-Commerce for Managers
          4. E-Commerce: Business, Technology, Society (3rd Edition)
          5. Economics of Money, Banking, and Financial Markets, Update (7th Edition) (Addison-Wesley Series in Economics)
          6. Effort-Less Marketing for Financial Advisors
          7. Electronic Commerce 2004: A Managerial Perspective, Third Edition
          8. Essentials of Marketing: A Global-managerial Approach (Mcgraw-Hill/Irwin Series in Marketing)
          9. EVA and Value-Based Management: A Practical Guide to Implementation
          10. Form Your Own Limited Liability Company 4th Edition

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